Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-12-07
THE PRESIDENTS MESSAGE,
o the ConRraas Of tina Initial ct.ta..

1osAo Cohgrsas OF th6 United States:
You are confronted at the threshold OF
your legislative duties with a condition
Ct y :.=s:s fir,Rnces which impera-
lively demands immediate and careful
consideration. The amount Of money an
ntaally received through the operation Of
present laws, from the industries and
necessities Of the people, largely exceeds
tho sum necessary to meet the expenses of
the government. when we consider that
the theory Of eur institutions guarantees
TO every citizen the fun endowment OF
the fruits Of: his industry and enterprise,
with only such deduction az may be his
share towards the careful and economical
maintenance OF the government which
protects him, II 10 plain that, the exaction
OF more than this Is i~ndefensible and q
cuipable betrayal Of fairness and Justice.
This wrong inflicted upon those who
bear the burden Of national taxation,
Ike other wrongs, m~nltipliss a brood OF
CYL consequences. The public treasury.
which should only exist as d conduit
converting The peoples tribute to the legit-
innate objects OF its expenditure, has be-
come q boarding place for money need
lessly withdrawn from the trade and the
peoples use, thus gripping on national
energies, usurping our country's dsvel-
0pnaent, preventing investment In pre-
ductive enterprises, threatening financial
disturbance ~andinviting schemes OF pub
Jig plurdsy. T~hhSconditton Of our treas.
ury Is not altogether new, Il, has more
than once OF late been submitted 10 tho
peoples representatives In the congress.
who alone can apply the remedy, and yet
the aituation still continues with aggra.
atedincideRts more than ever p~resaRing
financial convulsion and widespread dis
aster. II will not do to neglect this sic
nation. Because its dangers are not now
paipably imminent and apparent, they
exist none the less certainty. On the
Both day Of June, 1885, the excess
81 revenue 3 public expenditures.
after complying with the annual re.
auirement Of the sinking fund act. was
pa, 659. 1855. S4; during the year
ended June 80, 1885, such sxces.
amounted to s49,405, 545. 30; and
during the year ended. Junc 80. 1887.
It reached the sum Of $s5, 567, $40. 59f
The annual contributions to the sinkinp
fund during the three years above spsci-
ded amalnnted In the aggregate to $685.
0hS, $40 and deducting from the surplus
90 stated were made by calling In Tor
that purpose the outstanding 5 per cent.
bonds o. the government. During the
sir months prior 10 June 80, 1857, tho
surplus revenue had grown 30 Large. BY
repeated accommodations, that 1t was
feared the Withdrawal Of this great sum
OF money needed by the people, would
20 infect the business OF the country.
that the sum Of s7s, 1854, 100 Of such sur.
plus was applied to tho payment OF the
principal and interest Of 8 per cent
bonds still outstanding, and which were
then payable at the option Of the GOV
eminent. The precarious condition of
financial affairs among the people still
needing relief. immediately after the
5Oth day of June, 1887, the remainder Of
the 8 per cent bonds then outstanding.
amounting with principal and interest to
the snmsof I'll. l77,tso, wers called in
and Applied 70 the sinking fund contri-
button for the current Ascsl year. Not.